Posts tagged with "loan"

March 8th, 2018Cyprus last week paid 312.5m to the Russian Federation as the first instalment of a €2.5bn loan agreed more than six years ago and restructured in 2013, a finance ministry source said.
The loan, agreed in late 2011 by the government of former president Demetris Christofias, which lost access to financial markets and was trying to...

February 11th, 2018By Bejay Browne
A BRITISH mother living in Paphos, another victim of the Swiss francs mortgage mis-selling scandal, has issued a desperate plea for help after being swamped by a mountain of debt caused by a property purchase under the scheme.
Laura (not her real name) contacted the Sunday Mail as she felt she has nowhere else to...

October 25th, 2017The government is faced with €903m in debt maturities next year after having to repay €374m in maturing debt by the end of 2017, the Public Debt Management Office (PDMO).
Next year’s maturities are broken down to €805m in loans, including the first two instalments of a loan from Russia and €98m in domestic government...

July 19th, 2017Cyprus on Tuesday repaid part of its bailout loan from the International Monetary Fund before the payment was due.
The government paid €288m, cutting its debt to the IMF down to €700m, according to data released by the public debt management office.
The early repayment took place following the issuance of a seven-year 2.75 per...

January 16th, 2017A written agreement between a purchaser (assignor) in a sale contract and a third person (assignee), through which his rights are assigned to the assignee for the purpose of securing loan facilities constitutes an assignment for the said security and it is provided by the Specific Performance Law. The law extended the meaning of the word...

September 20th, 2016RCB bank boss Kiril Zimarin was aware of the reason contractor Miltiades Neophytou visited him in December 2011 and arranged for the €2 million loan to Omonia football club to be filed within minutes, a witness told the court on Tuesday.
The court heard testimony from Stavros Aletras, a civil engineer working at Neophytou’s...

September 13th, 2016Hellenic Bank, Cyprus’s third largest lender, said that it will participate together with the European Bank of Reconstruction and Development, in a syndicate loan to Greece’s telecom OTE with a total of €20m.
EBRD which possesses a 5.4 per cent holding in Hellenic, “will extend a €339m syndicate loan to OTE to support its...

April 12th, 2016By William James
Britain could offer a state loan on commercial terms to help tempt a potential purchaser for Tata Steel's Port Talbot steelworks, a government source said on Tuesday.
Prime Minister David Cameron, who has called an referendum on EU membership for June 23, is under pressure to keep Tata's British steel plants open...

January 25th, 2016By George Psyllides
A 55-YEAR-OLD Larnaca man was remanded in custody for four days on Monday in connection with a bomb blast outside the home of a woman in Oroklini, as well as usury, and extortion.
The man, a nightclub owner from Oroklini, was arrested following the explosion of a bomb on the veranda of a house early on Sunday....

November 28th, 2015The European Bank for Reconstruction and Development (EBRD) announced it has granted Interorient Shipmanagement, a leading ship management company based in Cyprus, a US $114m loan to be used to expand the company.
The loan will facilitate the company’s expansion and contribute to the recovery of the Cypriot economy, which should...

July 2nd, 2015By Hasmik Mkrtchyan
Moscow has granted ally Armenia, which hosts a Russian military base, a $200 million loan to buy Russian weapons and modernise its armed forces.
"We are acquiring a kind of weapons, which have not been at the disposal of the Armenian armed forces previously," Ara Nazaryan, a deputy defence minister, told...

March 13th, 2015A 35-year-old man who could not service a loan he took out in Swiss francs to buy a flat sought to hand over the keys to the Bank of Cyprus also asking for the money he paid so far to be returned.
Engineer Nicos Hadjiyiannis said he has so far paid €60,000 for a €105,000 loan he took out in 2006.
But after the Swiss National...

December 12th, 2014By Marie Kambas
Cyprus and the European Investment Bank signed an agreement today that will allow small and medium sized enterprises receive overall 75 million in new loans from the Cyprus operations of Alpha Bank, Eurobank, National Bank of Greece and Societe Generale.

March 13th, 2014By Staff Reporter
Electricity authority unions have approved the renewal of a €100 million loan to the government for another month, granted late in 2012 amid warnings of a state default.
Reports earlier this week suggested that unions were opposed to the renewal but on Thursday they decided to agree as a gesture of good will...

March 11th, 2014By Angelos Anastasiou
The Electricity Authority of Cyprus (EAC) pension fund managing committee will decide on Tuesday whether or not to renew the €100 million loan it granted the Cyprus government, which expires on March 19.
The semi-state organisation (SGO) had agreed to lend cash out of its employees’ pension fund in...

January 10th, 2014By Elias Hazou
ARCHBISHOP Chrysostomos has said the Church has secured a €50m loan from a foreign investor – but is it another flash in the pan?
The wheeler-dealer Archbishop, who first broke the news to reporters last week, has steadfastly refused to name the investor, whose identity remains a mystery.
Whereas initially the...

December 16th, 2013By Timothy Heritage and Katya Golubkova
RUSSIA signalled on Monday it was about to agree a loan and gas deal with Ukraine to help Kiev stave off economic chaos and keep it in its former Soviet master's orbit.
In Kiev, the opposition went ahead with preparations for another big rally for Tuesday against what they see as moves by...

November 29th, 2013THE state Housing Finance Corporation (HFC) will start accepting new loan applications soon, perhaps within 2 or 3 months, a process interrupted following the island’s messy bailout in March.
Charalambos Siambartas, director of the company that provides preferential housing loans to low and mid-income families, said the HFC stopped...

August 30th, 2013Russia has come to a decision after months of negotiating to restructure the €2.5 billion loan it gave Cyprus in 2011.
According to Russia’s deputy finance minister Sergei Storchak, a positive decision regarding the loan was made during a recent cabinet meeting. Repayment will be in the form of eight equal payments every six...

May 31st, 2013THE government and the European Investment Bank yesterday signed a loan agreement for €100 million to be used for various projects.
The loan will be used to part-finance investments totalling €1.2 billion in areas identified under the National Strategic Reference Framework for the 2007-2013 period, which include improving the...

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